Dec 9, 2013 10:00am EST
diversified basket than just stocks and bonds. for longer,say low is that a call for the economy or on the market or will they both move in lockstep? >> it is both. growth is going too slow for a longer. of time. we think that the fed will keep monetary policy easy. short-term rates will remain where they are. long-term rates will budge up a bit. the stock market -- the peas are pretty high. we can squeeze a lot of juice out of that. we want to be a bit cautious for the longer-term right now. we want to make sure the people are using this diversification and understand the correlation may work against them up the market does react in a way that we are thinking. >> how is blackrock positioning itself to benefit from this environment? you have to look at the market and say, what do i do so that people invest with us? >> you will hear a lot today. you are in the right place. we will have our chief strategist talk to you today. they will give you an idea of where to be to protect yourself. one of those areas is diversification. not just in treasury, but more in credit. you are earning a
Dec 6, 2013 10:00am EST
looking for this. the market believes that the economy is ready to take over for them. instead of propping up earnings with the stimulus, you get more people spending more money. it is a smooth handoff. that may to say, but be what is behind the thinking today. it is hard to tell what is going on in the bond market. maybe some shortselling. you are not seeing a big pop in interest rates. you may see it the same way that your pricing the economy. >> does it surprise you that volumes are low? usually we see a big push. could it be that it is december and people are wrapped up for the year? >> that is certainly possible. you do not want to take a chance. we are up for the year. nothing has been more volatile than the unemployment report. maybe people did not make huge bets this time. they are all looking to get out of town on friday. >> i am not looking to get out of town. we have two hours of great tv to do. michael mckee, hank you for joining us. we want to turn our attention to the labor department. they say 3.6 million workers were paid at or below the minimum wage of seven dollars -- $7.
Dec 5, 2013 10:00am EST
newsfeed. it is the top business story from around the world. the u.s. economy grew faster in the thor quarter than first figures showed. up from the initial estimate of 2.8%. the biggest increase in inventory since 1998 is the reason. two low-fare carriers will benefit from the merger that is creating the new american airlines. southwest air and virgin america will gain flight slots at laguardia airport. settlement of a the justice department suit blocking their merger. night a record breaking for norman rockwell's painting. it sold for $46 million. it was the most ever for a painting. it was voted a reader favorite. i am not sure when it was voted a reader favorite. let's start with a blackstone to joe brought up. -- joe marotta. -- barata. we welcome joe for his first television interview. >> thank you for having me. seems sensible to talk about private equities, since that is what you do. why isn't it busier? fordoes it seem so hard people in your business to find things to buy? >> that is the perception i think. we are in a more normal private equity environment right now. i don't
Dec 10, 2013 10:00am EST
regulatory environment that the banks are operating under as the economy improves. will that situation be better for banks as they attempt to figure out the rules of the road? >> absolutely it will be better for banks when the economy improves, but remember that part of that improvement will be an increase in interest rates. >> how do they hedge this risk going forward? that will be a crucial problem is the federal reserve begins to taper. as the economy improves, they will be competing with other obstacles, hedging the improving economy based on their portfolio that they have now. >> cast your eyes into the future. we are being told that the volker rule will not be enforced for another year. the president announced it back in january of 2010 and banks have been responding since then, suspending their prop trading desks. in 2015 how different are things going to be from the way they 2009?n >> first and foremost, metrics will matter. that is the only way that regulators are going to be able to distinguish prop trading from market making to tying hedging to specific and identif